Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Fortified/Functional Packaged Food in the Philippines

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Executive Summary

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PROSPECTS

Options widen

Fortified/functional packaged food held the largest retail value share in health and wellness packaged food in 2017, with FF milk formula the largest category as it is an industry standard for milk formula to be fortified. Fortification is also actively used in dairy where new brand options in 2016 included Cocio Energy (Arla Foods Philippines) and the French brand, Regilait.

Increasing health awareness to support growth

The growing health consciousness of consumers is expected to expand the coverage of fortified/functional packaged food over the forecast period. The introduction of a fortified salty snack in 2016 is an indication of the openness of companies to explore underdeveloped areas.

Fortified/functional packaged food recorded higher retail value growth in 2017 than in 2016, partly driven by the improvements in brand choices. Price points are also wide, given the availability of affordable FF sugar confectionery such as the new Judge Menthol candy (SPI Corp).

COMPETITIVE LANDSCAPE

Mead Johnson Philippines leads

Mead Johnson Philippines led fortified/functional packaged food in 2017. It derives its share mainly in FF milk formula through its Lactum, Enfamil, Alacta and Enfagrow brands, which allows it to cater to infants in different age brackets.

Nestlé a threat

While Mead Johnson Philippines has a wide brand portfolio, its business risk is not adequately spread as it focuses mainly on baby food and dairy. It also largely caters to children and seniors.

RFM Corp records double-digit retail value growth

RFM Corp recorded the strongest retail value growth in fortified/functional packaged food in 2017, maintaining the double-digit value growth it achieved in 2016. Its Selecta brand leads in FF reduced fat milk, while it ranks second in FF standard milk.

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Overview: Discover the latest market trends and uncover sources of future market growth for the Fortified/Functional Packaged Food industry in Philippines with research from Euromonitor's team of in-country analysts.